• Trump struck some major AI tech deals on his Gulf tour this week.
• The deals have alarmed some lawmakers who worry the technology could fall into the wrong hands.
• OpenAI CEO Sam Altman called those critics "naive."

President Donald Trump went to the Gulf this week and struck some deals that AI companies in Silicon Valley are excited about.

Lawmakers, on the other hand, are less excited.

OpenAI CEO Sam Altman called those critics "naive" in an X post on Saturday.

"This was an extremely smart thing for you all to do and i'm sorry naive people are giving you grief," Altman said on X, responding to David Sacks, Trump's AI czar and a former PayPal executive.

In his own X post, Sacks said he was "genuinely perplexed" how anyone could see Trump's AI deals in the Gulf as anything but "hugely beneficial for the United States."

Among the deals announced during Trump's tour was a partnership between chipmakers Nvidia, AMD, and Humain, a new Saudi AI company launched by Crown Prince Mohammed bin Salman, to bring billions in chips and hardware to the kingdom. Amazon Web Services also announced a $5 billion plan to build an "AI Zone" in Saudi Arabia. The UAE announced a new AI campus.

OpenAI, too, is ramping up investment in the Middle East. The company this week announced plans for a new data center in the UAE. It may end up as one of the largest in the world, and is another sign that the tech industry is eyeing the region as a new AI hub.

In Washington, however, these deals have drawn critics from both sides of the aisle who worry the emerging technology could end up in the wrong hands.

During a speech on the Senate floor on Thursday, Democratic Sen. Chuck Schumer said the chip deal was "dangerous because we have no clarity on how the Saudis and Emiratis will prevent the Chinese Communist Party, the Chinese government, the Chinese manufacturing establishment, from getting their hands on these chips."

The Republican-led House Select Committee on the Chinese Communist Party, meanwhile, said in a post on X that "Reports of new U.S. chip deals with Gulf nations — without a new chip rule in place — present a vulnerability for the CCP to exploit."

The competition between the United States and China to dominate AI technologies has ramped up in recent years. The US has tightened export controls on advanced chips and manufacturing tools to curb China's progress, while also boosting domestic production. China, meanwhile, has accelerated investment in its own AI companies and sought suppliers outside the United States.

• A new survey suggests that Dubai's population growth is having a negative impact on expat salaries.
• As more expats compete for jobs, salaries are set to remain flat in 2025, Cooper Fitch found.
• But the recruitment agency said housing costs are up, which could shrink expats' disposable incomes.

As expats continue to relocate to Dubai, the cost of living is rising but salaries are expected to stagnate, according to a new survey by Dubai-based recruitment agency Cooper Fitch.

Cooper Fitch projects that salaries across the United Arab Emirates will flatline in 2025, with an average increase of 0%, despite expected GDP growth.

Its UAE Salary Guide 2025, based on a survey of business leaders from over 1,000 organizations, also notes that some market analysts warn the country's expanding expat population could eventually drive average salaries down.

Dubai is an expat hot spot

Foreigners have long been drawn to Dubai by tax-free incomes, a luxury lifestyle, and a warm climate.

Dubai's population has surged to about 3.85 million, with expats accounting for roughly 87%, according to government data.

This marks a population increase of about 475,000 people from March 2020.

The positive economic indicators, including inflows of foreign direct investment and rising GDP, may entice even more people to relocate to Dubai in the coming years.

However, Cooper Fitch said that when it comes to salary increases, the significant population growth is "balancing the economic gains."

Fiona Robson, the head of the Edinburgh Business School at Heriot-Watt University Dubai, told BI that the influx of expats is expanding the talent pool for job vacancies.

As such, she said that salary stagnation "could be due to less of a need to offer premium salaries when there is already a good set of candidates to select from."

Salaries flatline, while living costs soar

Dubai remains a magnet for high-income earners, said Washika Haak-Saheem, the dean of Dubai Business School at the University of Dubai, in an email to BI.

However, those who are less well-off may be increasingly feeling the pinch.

Haak-Saheem said that for middle-income professionals "who are important to Dubai's dynamic economic growth, ensuring sustained salary growth remains an area of focus."

Dubai is now the costliest city in the Middle East for expats, and 15th globally, according to Mercer's Cost of Living 2024 ranking.

Housing is a major factor.

In the 12 months leading up to December 2024, rents rose by an average of 16%, said CBRE's head of MENA research, Matthew Green, in an email to BI.

"This has been driven by a rapidly rising population, with new supply failing to keep pace with demand," he said. And rents are forecast to rise even further in the coming quarters, Green added.

"The disparity between escalating living costs and stagnant salaries poses financial challenges for many expatriates," Rizwan Tahir, professor of global management at the Rochester Institute of Technology Dubai, told BI.

The cost of a growing population

Flatlining salaries and rising rents may be the price of Dubai's expanding expat community. Even so, the city plans to keep growing.

According to its urban development roadmap, Dubai aims to increase its population by an additional 5.8 million by 2040.

Going forward, available salaries and rents could lead to a reduction in disposable income for some, but Trefor Murphy, CEO of Cooper Fitch, said that context is key when it comes to salaries in the UAE.

"They're already at that very high level and it's tax-free," he said, adding: "People get paid really well."

Do you have a story to share about life as an expat in the UAE? Contact this reporter at [email protected].

• Demand for consulting firms has been down in key markets like the US and UK.
• However, the advisory business is booming in Gulf states thanks to national development projects.
• Working on major national projects is giving consultants "unique" influence in the region, experts told BI.

Recent years have been tough for the consulting business. Growth has plummeted in some key markets, and the challenging economic climate has led to layoffs and restructuring at major firms. But one region is proving to be a consulting bright spot.

International consultancies are finding success in the Gulf Cooperation Council, or GCC — a political and economic bloc that includes Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman.

According to Source Global, a UK-based research firm that tracks the consulting industry, the GCC consulting market grew 13.2% in 2023.

Source Global's research found that in the more mature US and British markets, growth in 2023 slowed to 5.2% and 4.7%, respectively. In previous years, growth in both countries had been in double digits.

Dane Albertelli, a senior analyst at Source Global, told Business Insider that the scale of growth in the GCC advisory market is "unprecedented" and that it has become "the place for opportunity and the place where these companies can make a lot of money."

Albertelli said that data for 2024 has yet to be finalized but that the GCC market was expected to have accelerated by more than 15%.

A 'cascade' of opportunities

Opportunities for consultants in the GCC started with the UAE roughly 20 years ago, when its government poured resources into plans to diversify its economy away from oil.

Heavy investment in tourism, aviation, real estate, and financial services led to the need for planning and technical expertise. Consulting firms started to pour money and resources into meeting the needs of the Emirati government, and "it's just been a cascade from there," Albertelli said.

The scale of Western consulting firms' presence in Gulf nations is apparent in the volume of offices they have in the region. All of the Big Four — Deloitte, PwC, EY, and KPMG — have 10 or more offices in GCC countries, while McKinsey has eight, BCG has six, and Accenture has four. The UAE is a particular hot spot, with Deloitte having nine offices in the country.

Saudi Arabia has been leading the drive in recent years with its Vision 2030 strategy, a $1 trillion project to reduce reliance on oil revenues and boost the country's standing on the global stage.

The centerpiece of Vision 2030 is Neom, an ambitious megacity and tourism hot spot being built in the country's northern deserts. But Saudi Arabia is also planning to construct a whole new district in Riyadh, preparing to host the 2029 Asian Winter Games and the 2034 FIFA World Cup, and aiming to become a "national champion" in AI.

Dubai is now a tourism and expat hot spot, and the UAE's economy is booming. But the drive for growth and the need for consultants hasn't stopped — the current push is toward healthcare innovation with the aim of becoming a medical tourism hub.

Similar tourism, sport, technology, and infrastructure initiatives are underway in Bahrain, Kuwait, Qatar, and Oman.

"That naturally translates into an awful lot of advisory work," Albertelli said. International consultants are being called in to design and implement projects ranging from transportation networks and city construction to education reform and public sector tech systems.

Such projects have not been without controversy. Saudi Arabia has been accused of human rights abuses against local tribespeople living close to the site of Neom, while hundreds of migrant workers were acknowledged to have died in Qatar in the lead-up to the 2022 World Cup.

Albertelli said that while they spend to diversify away from reliance on petrochemical dollars, the Gulf nations' backlog of oil funds has ensured that the advisory sector avoids the macroeconomic tension that has hit the European and US advisory markets.

Barring any massive geopolitical tension, opportunities aren't going anywhere, Albertelli said. He expects the rate of growth to continue for several years and says the main change to the market will be that, as infrastructure gets built, the work will shift from strategy to operations advice.

From the pull factor of little to no income tax to the recent opening up of society, the region has plenty to attract consultants besides a steady stream of projects.

"If you don't mind a bit of sun, it's probably the best place to go for your career," Albertelli said.

A unique market

The GCC consulting market is unique in that most firms' clients are national governments rather than private companies, giving international firms a significant role in shaping the public sector.

"The degree of access and influence that consultancies have over policymaking is far more extensive than what you see in most other regions," Dawud Ansari, President of the Majan Council, an Omani think tank focused on development in the Gulf region, told BI. "They don't just refine policies or draft reports — they design entire national visions and, in some cases, effectively take over the steering wheel of major policy initiatives."

"Most Gulf states have a limited number of national think tanks and independent expertise, meaning that when a decision needs to be made, the instinct is usually to bring in an external, mostly foreign, consultant," al-Ansari told BI.

"They come from a completely different cultural and institutional background, which inevitably affects how they operate and how aligned their recommendations are with local realities."

Al-Ansari said that the continued reliance on external expertise for policymaking could erode public trust and restrict nationals from developing career paths in public policy.

As the market continues to grow, a rising number of local boutique advisory firms are being created. The Saudi government's "Saudization" policy — which enforces a quota system on high-value industries — is also resulting in more nationals entering the offices of international consultancies.

Albertelli told BI that most Gulf states are focused on the outcomes and care about the brand rather than the nationality of consultants.

"All the big countries in the GCC want the best talent and they're willing to spend no matter where it's from. Obviously, these are all big Western companies, but I think they realize that, particularly with the Big Four, they're massive international firms," he said.

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• Tim Clark helped set up Emirates in 1985 and has been its president since 2003.
• The airline flies from Dubai to 12 US airports as well as dozens of cities globally.
• Clark says if a business "recognizes and respects" its workers, "they look after you" in return.

Dubai's population has grown about 10-fold since Emirates was founded 40 years ago. Among the airline's founding team was Tim Clark, who has been its president for more than two decades.

At the beginning, the nascent carrier wasn't "taken very seriously," he told Business Insider in a wide-ranging interview last month.

That began to change once competitors and aircraft manufacturers realized Dubai was ideally positioned roughly halfway between Europe and the Middle East — and that Emirates was determined to shake up long-haul aviation.

"We were considered to be lunatics, but we did manage to persuade the powers that be in both Airbus and Boeing that we were deadly serious," Clark says.

As well as aircraft that could fly non-stop from Dubai to the likes of Los Angeles, Sydney and Auckland, he wanted cabins that were closer to private jets.

That led to innovations such as first-class suites with sliding doors in the late 1990s that are now "de rigueur everywhere. And I wish I had a patent on those, but we never did. And now they're in business class as well. So you see our footprints everywhere."

The rise of Emirates as a global aviation force mirrors the rise of Dubai, which Clark calls a "global metropolis." It's become "a great place for doing business" as well as serving the rest of the Middle East and North Africa region, particularly Saudi Arabia.

Its 96 flights a week from 12 US airports to Dubai has also made it easier for Americans to get to destinations such as Zanzibar, Mauritius or the Seychelles. Clark thinks there's a lot more growth to come in North America: "We have only really just started. We now have multiple points there, but there are so many more coming."

Emirates' expansion has been constrained to some degree by the availability of new aircraft. Delivery delays for Boeing's new 777X has prompted the airline to spend $4.5 billion "gutting all the old 777s and retrofitting them," Clark says. To maintain its fleet of about 250 passenger jets "you've got to retrofit," he adds.

It's also upgrading many of its A380s, which it first took delivery of in 2008. Later to the premium economy party than other airlines, it only made its Emirates debut in August 2022.

Business class, however, has always accounted for a considerable part of the double-decker Airbus — even if Clark dislikes the name.

When corporate travel budgets were slashed after the 2008 financial crisis, he says older customers in particular started flying in business "in a manner that we just couldn't believe."

People "want to go and see and enjoy … that's why I remain optimistic that demand will continue at the pace it has, constrained by all these we've talked about in regards to supply."

Emirates consistently ranks as one of the world's best airlines, though last year, rival Middle Eastern carrier Qatar Airways was crowned the world's best airline by Skytrax. Qatar pushed Singapore Airlines into second place, while Emirates ranked third.

One of Emirates' advantages over most competitors is being able to recruit its 23,000 cabin crew from anywhere in the world. "That is part of the essence of our model," as Clark puts it.

He describes Dubai as a "really popular city to be in" for many workers — and doubtless the tax-free salaries, generous bonuses and accommodation offer are part of the attraction for some too.

While its training program is "very, very demanding" and being "refreshed all the time," Clark adds: "We try to think that by delivering a fairly innovative stack of products, which we try to change out regularly, that the kids are actually really interested in what they're doing. And they like what they're doing," he says. "We look after them. We care for their welfare."

Asked about where Boeing lost its way, his advice to CEO Kelly Ortberg is to treat workers better. Clark said that if a company "recognizes and respects" its people, "they look after you. I promise you, they'll be doing much more than you asked them to do, simply because they're so proud of being in a company that looks after them."

Clark has been in the airline business for more than half a century, starting off at British Caledonian in 1972 before moving to Gulf Air in Bahrain for a decade. So why is he still working at the age of 75?

He says he considered stepping down during the pandemic but adds: "I just couldn't leave it. I was determined to get the business back on track and be profitable again, and eventually hand it over to the team of people I'm working with. These guys I've been working with 20 years, some of them.

"Frankly, will the business be successful with this team of people working? Of course it will … so I'll find a balance at some point, but I will go."

The airline posted a pre-tax profit of $2.6 billion for the six months to September, up 2%, on revenues of almost $17 billion, and Clark expects "another very good year" in 2025 but notes: "Anything can happen. Well, airlines are an unpredictable business, aren't they?"

• I've traveled to 90 countries, and I've been lucky enough to take my kids with me to 19 of them.
• Poland and Turkey have been some of our favorite places to explore as a family.
• However, we're not rushing to book return trips to Italy or the Dominican Republic.

I've traveled to over 90 countries and been fortunate to take my kids with me to 19 of them.

I can't wait to explore some of those destinations with them again. However, there were other spots I don't think I'd return to with children.

Here are five countries I'd take my kids back to ASAP and five I'd skip until they're older.

Poland was a surprise hit for us.

Poland may not be at the top of many must-see European destination lists, but I think it should be.

When I visited the country with my children, we went to Kraków, Warsaw, and Zapkone.

Our trip was relatively short and largely centered on seeing Taylor Swift's Eras Tour. However, we also visited some amazing historical sites like Wawel Castle and took a beautiful hike along the Polish-Solovkain border.

I really didn't expect Poland to be so charming, and we can't wait to go back to see more. Plus, I think it's a great base from which to explore other parts of Eastern Europe on multi-country trips.

I can't wait to hit the beach in Turks and Caicos again.

I've taken my kids to several Caribbean islands. Although they were all nice in their own way, I dream about returning to the crystal-clear waters and white-sand beaches in Turks and Caicos.

When my family visited, we spent most of our time at our resort, which was fantastic. Next time, I'd like to explore more of the island.

Even if I just sat on the beach on a return visit, though, I'd be very happy. I've visited beaches all over the world, and the ones in Turks and Caicos are among the most beautiful.

We'd go back to Iceland in a heartbeat.

From its welcoming, hip city of Reykjavík to its gorgeous glaciers, Iceland captured my heart. My kids and I explored the country's capital city before heading out on an expedition cruise.

We learned about the cultural legends of trolls and hidden people who are believed to live throughout the country and saw landscapes I could barely believe were real.

I felt very safe everywhere I went in Iceland, and I can't wait to bring my kids back to explore more. Next time, I hope we're lucky enough to see the northern lights or a volcanic eruption.

Dubai wowed us in the United Arab Emirates.

We only spent a few days in the United Arab Emirates. Before I visited, I thought of Dubai as a stopover city rather than a destination.

However, almost as soon as I landed, I knew I wanted to return. From desert safaris to seeing the tallest building in the world, there was so much for all of us to do together as a family.

Even though we did a lot, we still have yet to explore many of Dubai's best attractions and beaches. Next time, I'd also like to visit nearby Abu Dhabi and other emirates.

Turkey is near the top of our return list.

My kids and I had a magical trip to Istanbul. We all fell in love with Turkey's charm, and it was so fascinating to see the mix of European and Asian cultures since the country falls on both continents.

Taking a night-time ferry across the Bosphorus Strait and looking out at centuries-old landmarks bathed in warm light was a sight none of us will forget.

Wandering Istanbul's cobblestone streets while eating Turkish ice cream was a wonderful afternoon I hope to replicate soon.

I can't wait to go back and explore more of Turkey with my children. I know they'd love to check out more of the country's beaches, caves, and ancient ruins.

On the other hand, I don't feel compelled to go back to India with my kids.

We recently had a great trip to India, and I even wished I'd stayed longer. It's an incredibly big and diverse country with plenty to explore.

However, I wouldn't rush back there with my kids.

It was a little anxiety-inducing to ride in cars around New Delhi that regularly had to dodge wild cows on roads where most vehicles didn't stay in their own traffic lanes. Plus, the crowded city was just difficult to navigate in general.

I want to get a better handle on the country myself before I bring my children back.

I'm not rushing to bring my kids back to Italy.

This is an unpopular opinion among my friends, but I wouldn't bring my kids back to Italy. Because it's so popular, everywhere we went was incredibly crowded.

We mostly stuck to major cities like Rome and Venice, and we visited during a high tourist season in the summer, so it wasn't entirely surprising. However, my kids only have so many school breaks for international vacations, so we didn't have a ton of other options.

The stifling crowds made it difficult to get around, and some of the attractions we planned on visiting were sold out.

Moreover, although my family loves Italian food, it's pretty easy to find good pizza, pasta, and other specialties elsewhere in the world.

I'm glad we went once, but I'd rather explore other parts of Europe than return.

There are other places we want to hit before returning to the Dominican Republic.

I'm glad I took my kids to the Dominican Republic, but it didn't stand out to me as somewhere I need to return to. We stayed at a lovely resort, but it kind of felt like we could've been in any Caribbean destination.

It was ultimately our fault for staying in a touristy hotel and spending so much time on its property — the best part of the trip was when we ventured out to explore the country's beautiful mountains.

That said, I'd rather see a different part of Latin America or visit a new-to-me Caribbean island before going back.

We found places we wanted to explore more than Austria.

Austria is a beautiful country, filled with castles, world-class shopping, museums, and natural beauty.

However, my kids and I were more impressed by the brief stops we made in two of Austria's neighboring countries, Slovakia and Slovenia.

Before going back to Austria with my kids, I really want us to spend more time exploring those countries instead.

• The UAE ranks second in the world for average hours worked a week.
• Employees there work an average 51 hours a week, far beyond the US average of 38.
• Expats in Dubai, the UAE commercial hub, told BI their work is intense but richly rewarded.

"I've been on a treadmill before on my work phone, doing barrier options," said Nick Fowler, 33, a British man who moved to the United Arab Emirates two years ago. "It can get a bit ridiculous sometimes."

(Barrier options are a financial product common in asset management, Fowler's industry.)

He is one of the millions of foreigners drawn to Dubai by its year-round sunshine, tax-free income, and its abundant luxury.

But it comes with a catch: they end up working more than nearly anyone else in the world.

The UAE ranks second globally for the highest average weekly working hours per employed person, according to the International Labour Organization.

Employees in the UAE work an average of 50.9 hours a week, far exceeding the 38-hour average in the US and the 35.9-hour average in Fowler's native UK.

The top spot goes to the reclusive Himalayan nation of Bhutan, with 54.4 hours.

Fowler told Business Insider that his typical workday starts around 8 a.m. and ends at 6:30 p.m., often without a proper break as he eats lunch at his desk. His day rarely ends there.

"I've been on dates before [where] I've had to send emails," he said, "and colleagues have rung me when I've sat down to eat dinner."

Luxury, but at a cost

Patrick James, 32, also from the UK, moved to Dubai six years ago.

He had been there on vacation before and was largely unimpressed, but was still drawn to the city by its financial opportunities.

He told BI he was offered a salary twice what he earned as a teacher in London.

While his teaching job in London often ran from 6 a.m. to 3 p.m., a recent teaching role in Dubai had him working 12 to 14 hours a day.

Across a five-day week with a shorter Friday, that puts him around 50 hours a week, close to the UAE norm.

"My child is two now," he said. "I wasn't seeing him. He'd wake up, I'd leave at home, and he'd be asleep, and I'd get home, and he'd be asleep."

For a short while, James could justify the sacrifice. "You're working, you're grinding, you're saving your money, and then you get to go on these luxurious holidays," he said.

Eventually, it became too much. Last March, he switched to a remote role with a Japanese health and wellness company, giving him the flexibility to set his own hours while still in Dubai.

James said that he believes that so many expats in Dubai just accept the long hours because of the competitiveness of its job market.

"If you are not good at your job, they'll get rid of you and get someone else," he said.

A highly competitive market

"It is commonly known that in the expatriate market in the UAE, supply is higher than demand," Fiona Robson, a professor of human resources management at Heriot-Watt University, Dubai, told BI.

"This can lead to less power for expatriates if they can be replaced easily, particularly if specialist skills are not needed at the point of recruitment," she added.

For some, the pressure to perform can feel overwhelming. Eigher Noceda, a Filipina who spent seven years in Dubai working in sales, felt an unspoken expectation to exceed her contractual hours.

"They will not say no if you like to overwork," she said. "If you want to stay after six, it's up to you. If you work on Saturday, they'll not tell you, 'Oh, why are you here? You should go home.'"

Eventually, Noceda realized that Dubai's work culture wasn't for her.

"If you always like to work and you always have the energy to network and really work your ass off, this is the place for you," she said.

But for Noceda, having a work-life balance was more important, so she moved to Italy, where she said she found a work culture that suited her better.

A 'high-context culture'

Rizwan Tahir, professor of International Business at the Rochester Institute of Technology in Dubai, attributes the UAE's intense work culture, in part, to its "high-context culture," which relies on implicit understandings and unspoken expectations.

Unlike "low-context cultures" in Western countries like Italy — where employees typically adhere strictly to contracts — Tahir said employers in high-context cultures may expect longer hours, additional responsibilities, and availability outside regular work hours, even if not explicitly outlined in contracts.

Tahir highlighted that this dynamic is particularly prevalent in the UAE's private sector, where expatriates form the majority.

"The expectation of long working hours is often deeply ingrained, with many expatriates feeling pressure to demonstrate commitment and loyalty through their availability," he said.

Tahir said: "This cultural difference can lead to misunderstandings, increased stress, and significant challenges in maintaining a healthy work-life balance for expatriates."

Despite the challenges, for some, the trade-offs are still worth it.

Fowler, the British expat in finance, feels the rewards outweigh the sacrifices.

Thanks to his work in Dubai, he has been able to afford a sports car, live alone, and travel extensively.

He said: "I have a much better life here than I had in London by a long way."

On Tuesday, OpenAI, SoftBank, Oracle, and MGX announced plans to form Stargate, a new company that will invest $500 billion in AI computing infrastructure across the United States over four years. The announcement came during a White House meeting with President Donald Trump, who called it the "largest AI infrastructure project in history."

However, the origins of the Stargate project extend back to 2024, prior to Trump beginning his second term in office, and skeptics have begun to take aim at the numbers announced.

OpenAI says the goal of Stargate is to kickstart building more data centers to expand computing capacity for current and future AI projects, including OpenAI's goal of "AGI," which the company defines as a highly autonomous AI system that "outperforms humans at most economically valuable work."

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• The "Donald of Dubai" now ranks in the world's 200 richest people with a net worth of $13 billion.
• Hussain Sajwani joined Trump last week to say he'd invest $20 billion in US data centers.
• Sajwani is a longtime Trump associate and an investor in Elon Musk's SpaceX and xAI.

A real estate tycoon dubbed the "Donald of Dubai" has shot up the ranks of the world's wealthiest people, securing a top-200 spot on the Bloomberg Billionaires Index.

Hussain Sajwani, an associate of both President-elect Donald Trump and Tesla CEO Elon Musk, wasn't on the 500-person list at the end of 2024. He now sits in 179th place with a $13.1 billion fortune.

Sajwani joined Trump at a press conference last week to announce he'd invest at least $20 billion in US data centers, and cited the incoming president's pro-business policies for the move. Data centers serve a key role in powering cloud computing and artificial intelligence.

The Emirati billionaire now sits one spot behind financier Charles Schwab, and well ahead of fashion designer Ralph Lauren and Laurene Powell Jobs — the widow of Apple's late cofounder, Steve Jobs.

Sajwani has added $9.8 billion to his wealth in 2025 following Dubai's property boom, according to Bloomberg. That gain is beaten only by Meta CEO Mark Zuckerberg, the world's third-richest person, who's up an estimated $10.5 billion this month.

Sajwani is the chairman and founder of Damac Group, a private conglomerate that counts luxury real estate developer Damac Properties and fashion label Roberto Cavalli among the businesses it owns.

The 71-year-old partnered with the next US president to build the first Trump-branded golf course in the Middle East a decade ago. He's also invested in Elon Musk's SpaceX and xAI, press releases show.

Sajwani recently posted a picture on X of himself with Trump and Musk at a New Year's bash at Trump's Mar-a-Lago resort in Florida.

Trump's business ties have raised concerns of bias and conflicts of interest, especially after Musk emerged as one of his key donors, campaigners, and confidants in the recent presidential election.

• In 2022, Melissa Petro's family skipped holiday stress for a meaningful trip to Sri Lanka instead.
• The trip was a celebration after she sold a book proposal and they met up with family members there.
• Staying in an Airbnb with hired help enhanced her experience and allowed for true relaxation.

From Elf on the Shelf to cookie swaps, matching pajama sets, ugly sweater office parties, and countless other traditions, the holidays can be the most wonderful — and exhausting — time of the year.

After I sold a book proposal in November 2022, I had no interest in putting up a tree or wasting money on toys my kids didn't need while battling a seemingly endless parade of wintertime illnesses.

Instead, I wanted to celebrate the win and spend meaningful time with my family before having to focus on writing. My husband and I decided to skip the seasonal stress of gifting and spend the money instead on a trip of our lifetime.

We chose a location that was special to us

My husband is part Sri Lankan, and his brother owns a hotel on the island's southernmost tip. Planning an epic trip to Unawatuna, Sri Lanka, made a lot of sense. Because a flight to Sri Lanka from New York takes around 19 hours, we wanted to go for a significant amount of time. All four of our flights cost around $4,000 in total.

Whenever we travel, I prepare my kids by looking at pictures and discussing what we'll see and do. At three and five years old, they were too young to notice that we were skipping most kids' favorite holiday.

Getting there was part of the adventure

Taking a monthlong midwinter trip will probably require that you pull your kid out of school. Molly was still in day care, and Oscar's kindergarten attendance is always good, so missing two weeks of classes wasn't a problem. At this time both kids were too young to be seriously invested in participating in the typical end-of-season pageants and fairs.

For the flight, I packed a bag of snacks and another bag of activities like coloring, puzzle books, and playdough — anything that'll strike them as novel when boredom hits. I space out meals, movies, and activities.

We were unsure how our children would manage a long-haul flight, so we opted for an overnight layover in Abu Dhabi. It was the middle of the night when we arrived in the Middle East, but due to the time difference and having slept on the plane, everyone was wide awake.

The hotel we booked had a 24-hour waterpark, so we went for a moonlit swim. The next morning, everyone slept in, and we had enough time to shop at a nearby mall before the next six-hour flight.

I thought having hired help would feel weird, but it was wonderful

We had the option to stay with family in a more remote area but chose to rent a two-bedroom Airbnb instead. We wanted to be closer to the beach and have space versus spending the entire trip with relatives. A monthlong stay cost just $1,650 — less than it would've cost to stay in a typical hotel. The property exceeded my expectations.

The house was traditional, with whitewashed cement walls, a thatched roof of woven palm fronds, and polished cement floors. It was surrounded by a walled-in garden with mango trees, coconut palms, colorful flowers, and cement urns holding rainwater occupied by tiny fish.

The property had a private butler who cleaned daily and cared for the garden. Breakfast every morning was included, and he cooked traditional Sri Lankan dinner whenever requested for an extra fee.

I worried that having an unfamiliar adult in our intimate space might feel awkward, but it didn't. He did our laundry by hand, and I appreciated that the house was clean when we returned from a day out. He was sensitive to our privacy and extremely patient with the children — and having his help meant that I actually got a vacation.

Instead of forced traditions, we enjoyed much-needed family time

We spent the last weeks of the year together on the beach instead of visiting Santa and last-minute shopping. We swam in the ocean, made sandcastles, and ate authentic seafood curries poolside at various local resorts. We visited a local street dog rescue and a sea turtle sanctuary.

The temperature in Unawatuna in December is between 75 and 86 degrees, so there's no hope for snow — and no disappointment when it doesn't happen. There's no driving through inclement weather, no seasonal spirit days at your kid's day care, and no Secret Santa gifts to buy or toss.

There were occasional reminders of the holiday — twinkle lights on a palm tree or a Christmas carol playing in the background, mostly for tourists' sake — but there isn't the gross display of consumerism that's ubiquitous in the West.

Santa didn't skip my kids entirely

My husband and I felt a little guilty skipping Christmas entirely, so on Christmas Eve, we cut down a branch from the rubber tree out back and ran to the dollar store to buy a few ornaments and some inexpensive trinkets for them to open in the morning.

Considering many families spend thousands of dollars each year on decorations, gifts, meals, and other holiday-related expenses, and then another couple thousand for an annual vacation, rolling it all into one expense made sense for us.

With a minuscule percentage of my typical effort, the kids were just as pleased. As they played with their new toys in the garden, they marveled at how Santa found us all the way in Sri Lanka.

• A man from Northern Ireland looks set to spend Christmas in the UAE following his arrest.
• Authorities in Abu Dhabi arrested Craig Ballentine after he posted a negative Google review about his former UAE employer.
• Ballentine's family said the situation is "a living nightmare."

A man from Northern Ireland who was arrested after posting a negative review about his former employer in Dubai looks set to spend Christmas in the United Arab Emirates.

Craig Ballentine was arrested in Abu Dhabi's airport in October over a negative Google review he posted about his former workplace — a dog grooming salon in Dubai, according to Radha Stirling, an advocate who helps foreigners navigate legal trouble in the UAE.

Ballentine spent about six months working at the salon in 2023. He said he needed time off due to illness and presented his employer with medical certificates as proof of his condition.

But the employer reported him as "absconded" with UAE authorities after he missed work, and he was hit with a travel ban.

After getting the ban lifted, Ballentine returned to Northern Ireland, where he wrote a Google review detailing the issues with his former employer.

He was arrested after returning to the UAE for a holiday and now faces charges of slander.

Ballentine, who said he had paid a fine and was given a one-month social media ban, had hoped to get his travel ban lifted and return to Northern Ireland ahead of Christmas.

But he told the BBC that while on the way to a police station to get the ban lifted, he was told authorities wanted to appeal his case and had set a court date for February.

"While I was in the middle of the transit going there, I got the email that the court was not happy and they wanted to appeal again," he said. "I called friends and family and couldn't stop crying, because you're holding on to those emotions, you're just trying to focus on 'let's get out of here.'"

A GoFundMe set up by Ballentine's family has raised nearly $2,500 to help with his legal fees.

"What started out as a holiday to catch up with friends for Craig has turned out to be a living nightmare," the family says on the page.

"At present legal fees are crippling and any money raised will go to help clearing these costs," they added.

Ballentine has also appealed to politicians to support his case with the help of Radha Stirling, a representative from the campaign group "Detained in Dubai."

"The amount of support Craig has is quite incredible," Stirling said. "Charging someone for an online review is something everyone can imagine happening to them. We've received an influx of worried tourists contacting us to check their police status in Dubai and it's certainly a good idea."

Stirling has helped several tourists held up in the country on exaggerated charges and forced to pay costly fees as a resolution. She previously told Business Insider that it's relatively easy to file a complaint that can prevent someone from leaving the country.

"There's been a lot of cases in the past where people have been accused of road rage or flipping the middle finger and that kind of thing, even when they haven't," Stirling previously told BI. "Then someone goes down to the police station, and whatever they say is automatically believed. They don't need evidence."

In one case Stirling worked on, a female college student lightly nudged an airport security officer during a security screening search. They accused her of assault, and she was unable to leave the nation for months.

In another case, a woman was detained after she was accused of screaming, which her accusers said violated a vague law criminalizing "offensive behavior" like rudeness or swearing. She paid $1,000 to have the travel ban that prevented her from leaving lifted, though her accusers initially demanded $10,000.

"It's actually culturally widespread, and the police haven't done anything to clamp down on that sort of extortion," Stirling previously told BI.

• Dubai is a haven for rich expats seeking business opportunities and low tax.
• Its real estate market is struggling to keep up with demand for luxury housing.
• Property prices keep rising as Dubai scrambles to build thousands more villas to meet demand.

Dubai is hot with the rich. The emirate has become an economic hub for entrepreneurship, business, and networking, while its lack of income tax is also a lure for many international ultra-high-net-worth individuals.

Geopolitical instability and tax policy changes in other hubs have only made Dubai more of a haven for the superrich. The influx of wealthy folk is causing a problem, however: there aren't enough houses to meet demand.

In its latest Dubai Market Review, property company Knight Frank found listings of luxury properties valued at more than $10 million plummeted by about two-thirds to 460 this year.

To meet surging demand, Dubai is scrambling to build more homes. Almost 9,000 villas will be completed by the end of the year, and another 19,700 are expected to be built in 2025.

Developers will have to build even more upmarket properties to meet demand. Knight Frank suggests that Dubai will need between 37,600 and 87,700 houses by 2040 to help accommodate a population set to reach about 5.8 million by then.

At the same time, prices in Dubai prime neighborhoods such as the Palm Jumeirah and Emirates Hills have soared, rising by 20% in the most recent quarter compared to the same period last year.

"Last year, we had 37 homes available for over $50 million," Faisal Durrani, Knight Frank's head of research for the Middle East and North Africa, told Business Insider. "This year, it's dropped to nine."

"We're talking quite small numbers here, but it's helping to paint this picture of a shortage of homes at the top end of the market."

Although Dubai's real estate market is buoyant, Durrani said the housing bubble could burst if the global economy slows or oil prices falter.

A global recession would mean "a very real risk of job losses, population reduction, and therefore reduction in demand for housing," he said.

Prices are expected to rise by 8% in 2025, yet luxury property in Dubai is still a relative bargain. Knight Frank found that $1 million buys 91 square meters of prime property there, compared with 33 square meters in London and 34 square meters in New York.

"When you put Dubai on the global stage and you're looking at relative affordability and affordable luxury, it's still reasonably priced compared to elsewhere in the world," Durrani said.

• Mercer's Quality of Living City Ranking 2024 looks at factors such as political stability and healthcare.
• There were 12 Asian cities that made it into the top 100 in the rankings this year.
• Singapore was the only Asian city to make the top 50.

If you're considering moving to Asia, a new report can help determine which city would be the top choice.

Mercer, a human resource consulting service, recently released its yearly Quality of Living City Ranking, which ranks 241 cities across five continents. The ranking process considers factors such as political stability, healthcare, education, infrastructure, and socio-cultural environment.

In an era of remote work, the ranking also considered the cost of living in different cities.

Mercer said that the most "successful destinations" were those that "blend flexible governance around mobile talent with a high quality of life and an affordable cost of living."

Although many European cities were featured high on the list, with Zurich maintaining its top spot, 12 Asian cities made the top 100 this year. Singapore was the only city in Asia to make the top 50, at 30th position.

Take a look at the top 10 cities in Asia:

10. Abu Dhabi, United Arab Emirates (85th)

Abu Dhabi recently ranked second, with Dubai taking first place, among the most popular locations for executive nomads, according to the Executive Nomad Index by real estate firm Savills.

The capital of the UAE is known for its modern skyline and shopping megacenters. Expats make up more than 80% of its population, per InterNations, a Munich-based expat network.

9. Taipei, Taiwan (85th)

Taipei, the capital of Taiwan, is tied with Abu Dhabi at 85th. Between 2019 and 2021, Taiwan was ranked first out of 59 destinations in the InterNations Expat Insider survey for the job security expats enjoy and the state of the local economy.

Alex Teachey, a New Yorker who moved to Taipei in 2020, previously told BI that he enjoys the city for its affordability.

"I live a 20-minute bike ride from my office — I never could have afforded anything remotely similar if I'd stayed in New York City," he said.

8. Dubai, UAE (83rd)

Known for its glitzy skyscrapers and modern architecture, Dubai is also an expat hotspot. According to the Dubai Statistics Center, 92% of its 3,655,000-person population are non-Emirati.

Expats in Dubai previously told BI that they liked the city for its convenience and ease of making friends. "There are so many interesting and new people to meet here with different perspectives than we're used to," said Kiran Ali, who relocated to the city with her family earlier this year.

7. Seoul, South Korea (81st)

Seoul, the capital of South Korea, clearly has more to offer than just K-pop. With a population of 9.4 million, the city is popular for expats seeking affordability and a rich culture.

Besides Seoul, Busan was the second city in South Korea to make the top 100, ranking 100th.

6. Hong Kong (76th)

Hong Kong is known for being a global financial center with a thriving food scene. It is also one of the most densely populated cities in the world, with an overall density of around 17,311 people per square mile.

Kaitlyn Cheung, who moved from California to Hong Kong, previously told BI that she was impressed by the country's efficient public transport system and found the city to be diverse. "I routinely made friends from all over the world, which allowed me to broaden my horizons and learn about different cultures," she said.

5. Nagoya, Japan (74th)

Located in the center of Japan, Nagoya is the capital of Japan's Aichi Prefecture with a population of 2.3 million people.

LaJuan, a content creator, moved to a shoebox apartment in the city and pays $230 a month in rent. He appreciates the city's slow and simple pace of life.

"Nagoya, to me, is a perfect balance of both city life and just having some space for yourself," he told BI.

4. Osaka-Kobe, Japan (68th)

Osaka is a port city known for its nightlife and history. It's Japan's second-largest metropolitan area after Tokyo. Kobe, a city known for beef, is 22 miles from Osaka, or just 12 minutes away by the Shinkansen bullet train.

Grace Cheng, who visited Japan 11 times, said Osaka is ideal for foodies. "Whenever I go there, my sole mission is to eat," she told BI, adding that she recommends the city's tonkatsu and takoyaki.

3. Yokohama, Japan (58th)

Located less than 20 miles south of Tokyo, Yokohama is a port city with skyscrapers and is home to Japan's biggest Chinatown.

The district around Yokohama Station earned the top spot for livability in the Greater Tokyo rankings by Recruit Co., a Toyko-based human resource service, for seven consecutive years, per local reports. The same survey found that reasons for wanting to live in the area include the availability of cultural facilities and large-scale shopping complexes.

"Yokohama was so safe that I took public buses by myself at 8 to meet friends in different parts of the city," Alicia Erickson, who moved to the city as a kid, told BI.

2. Tokyo, Japan (56th)

The capital of Japan is home to over 14 million residents and is easily recognized for its neon-lit skyscrapers and busy streets.

David McElhinney, who moved to Tokyo in 2018, was surprised by cultural differences. He added that knowing how to speak a little Japanese goes a long way in the city. "Big cities — especially ones as dynamic, complex, and multifaceted as the Japanese capital — always bring new surprises," he said.

1. Singapore (30th)

Singapore, a small island nation in Southeast Asia, was ranked the highest among Asian cities on the list. Widely hailed as the "most expensive city," Singapore's foreign workforce makes up around 30% of its population of 6 million.

Nick Burns, who transferred from San Francisco to Singapore, said he appreciates the city for its affordable healthcare, safety, and hawker food. "I can't see us leaving anytime soon," he said.

• Victoria Blinova worked in Dubai for four years at a boutique marketing firm and later at Nestlé.
• She grew up in Cyprus and moved to the UAE in 2013 to attend NYU in Abu Dhabi.
• Expats don't pay taxes, but Blinova found saving in Dubai hard because of the luxury lifestyle.

This as-told-to essay is based on a conversation and emails with Victoria Blinova, 30, about living in Dubai and moving to London. The below has been edited for length and clarity.

I grew up in Cyprus and moved to the UAE in 2013 to study at New York University in Abu Dhabi.

While there, I studied Arabic. A significant part of my day-to-day was being immersed in the culture. I wanted to stay in the region after graduation to continue my immersion.

I spent four years in Abu Dhabi, and then I worked in Dubai for four years. Initially, I worked in management consulting in a boutique firm. Later, I got a job at Nestlé and worked there for a couple of years before moving to London.

In Dubai, people are very transient. Everyone's an expat. By my fourth year, most of my friends had left the city. I felt like I needed to explore somewhere new.

Dubai has amazing work opportunities, and I plan to return at some point. There are so many complex and exciting projects you can work on. People are so generous, open to learn, and hungry for opportunities.

For entry-level jobs, if you are at the right company, Dubai is one of the most lucrative markets.

At Nestlé, back in 2019, I was making a good salary tax-free.

When I left Dubai, I had saved around 30% of my salary over four years. But I was constantly biting myself thinking I could have saved even more.

It's easy to get sucked into a glamorous life in Dubai

A lot of people in London are like, "I'm going to move to Dubai. It's like 40% to 100% more salary."

But I had a period in my life where I spent a lot more in Dubai than I spent in London. In London, you can be very thrifty, and that's not frowned upon.

When you're in Dubai, it's not part of the culture. Luxury is very affordable. Because of that, everyone automatically opts into that luxury.

I very often went overboard.

I remember clearly booking a five-star hotel to treat myself randomly for 200 dirhams, which is $54. I'd do stuff like book a five-star hotel for one night, and that's quite normal.

It was also very common to go to yacht parties. I've been to so many.

In 2021, I remember paying £80 for a yacht party. When I told this to my friends in London, and they were like, "But that's 80 pounds?" I responded that it was cheap for a day on a yacht.

Bottomless brunch is also very common. You would spend every weekend going to very luxurious bottomless brunches. It would be like £100 to experience something unforgettable.

In Dubai, if you go out, you're not just going to go to a cheap little place around the corner. There are more expectations on gifts.

You can't walk outside your house in Dubai and not spend a significant chunk of money.

Whereas in London, I feel like everything is so unaffordable, you end up not spending. The lifestyle in London differs because social plans can be going on a walk or spending a day in the park. You're not expected to drop £100 on a dinner. You don't have spend money to enjoy your weekend.

Saving choices like getting a roommate or buying a used car weren't the norm

I was renting for 70,000 dirhams a year ($19,058) divided by two. I had a flatmate, which is not very common in Dubai.

I remember my Nestlé colleagues in Dubai asked me, "Why do you live with a flatmate?" They weren't bullying me, but they thought it was a bit weird.

I also drove a used Nissan Juke, which is a nice car in London. But in Dubai, people would ask, "Why are you not driving an Audi?"

My response was, "I'm 25. I'm not going to buy a Mercedes or an Audi, especially I'm not going to buy it new."

I didn't club, and if I did, it was very rarely. Clubbing is a big deal in Dubai, and lots of people spend a lot on it. I also didn't spend money on luxurious brands, clothes, or handbags, because I didn't really care for them.

My mindset is that if I have money to spend, that means I have money to save.

But I'd say 80 to 90% of my surrounding peers, even the smartest people I knew, would literally live paycheck to paycheck. People opt into luxury automatically because it's relatively cheap.

It becomes part of your lifestyle, and this is when you spend all your money. I found it an ongoing problem.

If you're a family, I think it's easier to spend less. You're probably more accustomed to staying at home.

As long as you're staying at home, I think you can make Dubai work and make it very affordable.

But if you're in your 20s or your early 30s, and you're single or a young couple, and you like going out — prepare to spend a lot more than you ever imagined.

• The United Arab Emirates wants to become an AI leader by 2031.
• It's leveraging its oil wealth to attract new talent and fund new research initiatives.
• The UAE's AI minister believes we'll have "centers and nodes of excellence across the world."

The AI revolution is expanding far beyond Silicon Valley.

From the shores of Malta to the streets of Paris, hubs for AI innovation are forming worldwide. And the United Arab Emirates is emerging as a key center in the Middle East thanks to a rush of investment from US President Donald Trump.

This week, during Trump's tour of the Middle East, the US and the UAE agreed on $200 billion in commercial deals, according to a statement from the White House. The two countries also signed an agreement for the UAE to build the largest AI campus outside the US, which would also give the UAE expanded access to AI chips. The deal marks a major win for the region which, under President Biden, had more restricted access to chips due its ties with China.

The UAE has long been marking its name on the AI map.

In October, the UAE made headlines by participating in the most lucrative funding round in Silicon Valley history: the $6.6 billion deal closed by OpenAI. The investment was made through MGX, a state-backed technology firm focused on artificial intelligence and semiconductors.

The move was part of the UAE's bid to become a global AI leader by 2031 through strategic initiatives, public engagement, and research investment. Last year, the country's wealthiest emirate, Abu Dhabi, launched Falcon — its first open-source large language model. State-backed AI firm G42 is also training large language models in Arabic and Hindi to bridge the gap between English-based models and native speakers of these languages.

Another indication of the UAE's commitment to AI is its appointment of Omar Sultan Al Olama as the country's AI Minister in 2017.

The minister acknowledged in a video interview with DC-based think tank Atlantic Council that the UAE faces tough competition from powerhouses like the US and China, where private investment in AI technology in 2023 totaled $67.2 billion and $7.8 billion, respectively, according to Stanford's Center for Human-Centered Artificial Intelligence.

In the video, he said he is embracing cooperation over competition.

"I don't think it's going to be a zero-sum game where it's only going to be AI that's developed in the US, or only going to be AI that's developed in China or the UAE," Al Olama said at an event hosted by the Atlantic Council, a DC think tank, in April. "What is going to happen, I think, is that we're going to have centers and nodes of excellence across the world where there are specific use cases or specific domains where a country or player or a company is doing better than everyone else."

The UAE is one of the wealthiest countries in the world, mostly due to its vast oil reserves. The UAE is among the world's 10 largest oil producers, with 96% of that coming from its wealthiest emirate, Abu Dhabi, according to the International Trade Administration.

Abu Dhabi's ruling family also controls several of the world's largest sovereign wealth funds, including the Abu Dhabi Investment Authority and Mubadala Investment Company, a founding partner of MGX.

These funds have been used to diversify the country's oil wealth and could now be diverted to funding new AI companies. AI could contribute $96 billion to the UAE economy by 2030, making up about 13.6% of its GDP, according to a report by PwC, the accounting firm.

But capital is only part of the equation. The bigger question is whether the tiny Gulf nation can attract the requisite talent to keep up with Silicon Valley.

Recent developments show promise. Between 2021 and 2023, the number of AI workers in the UAE quadrupled to 120,000, Al Olama said at the Atlantic Council event. In 2019, it rolled out a 'golden visa' program for IT professionals, making entry easier for AI experts. It's also making the most of its existing talent. In May, Dubai launched the world's biggest prompt engineering initiative. Its goal is to upskill 1 million workers over the next three years.

However, it's also faced criticism for its treatment of workers, especially lower-skilled migrant workers. Migrant workers comprise 88% of the country's population and have been subject to a range of labor abuses, including exposure to extreme heat, exploitative recruitment fees, and wage theft, according to Human Rights Watch. The UAE has responded by passing several labor laws that address protections for workers around hours, wages, and competition.

Over the last decade, Abu Dhabi has become a nexus for AI research and education.

In 2010, New York University launched a branch in Abu Dhabi that has since developed a focus on AI. And, in 2019, Mohamed bin Zayed University of Artificial Intelligence opened as a "graduate research university dedicated to advancing AI as a global force for good." Professors from the university also helped organize the inaugural International Olympiad in Artificial Intelligence in August, which drew students from over 40 countries worldwide.

"Abu Dhabi may not directly surpass Silicon Valley, however, it has the potential to become a significant AI hub in its own right," Nancy Gleason, an advisor to leadership on AI at NYU Abu Dhabi and a professor of political science, told Business Insider by email. Its "true strengths lie in the leadership's strategic vision, substantial investments in AI research and compute capacity, and government-led initiatives in industry. The UAE has also made strategic educational investments in higher education like the Mohamed bin Zayed University of Artificial Intelligence and NYU Abu Dhabi."

Beyond that, she noted, it's "very nice to live here."